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Agent Provocateur sales rise 26%

Agent Provocateur, the luxury lingerie label, saw sales rise 26% to £20.7 million for the year ended March 31 but EBITDA dipped from £2.7m to £2.2m because of increased investment in international expansion.

Agent Provocateur said sales since the year end were up 8% on the prior year.

“Agent Provocateur is going from strength to strength.  Despite the challenges of the global economic environment, we continue to trade strongly and remain committed to our ongoing investment programme across the business.”

Garry Hogarth, chief executive, Agent Provocateur

Agent Provocateur was bought by 3i in November 2007. Since the acquisition the lingerie brand has invested £4.5 million in new stores, new systems and a new head office.

This included the opening of 13 new stores including eight company-owned stores and five franchise outlets. The business now has 43 shops.

It is also in the process of reviewing its ecommerce strategy and is looking at licensing opportunities.

Agent Provocateur chief executive Garry Hogarth said: “Agent Provocateur is going from strength to strength.  Despite the challenges of the global economic environment, we continue to trade strongly and remain committed to our ongoing investment programme across the business.”

Hogarth added: “This significant investment programme, including new store openings in some of the most exciting locations in the world, has given us the platform to grow the business. We are confident that our robust business model and strong operational disciplines will ensure our continued success and we look forward to reporting on further progress.”

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